Bitcoin Price Reclaims $88k! Will BTC Hit $92,000 Next?

Bitcoin price today has successfully reclaimed the $88k mark for the first time since 07th March with an intraday jump of 3.61% and a trading volume of $25.664 billion. Following this, traders and investors have flooded the internet with queries such as “Why is Bitcoin up today?”

Notably, Michael Saylor-led MicroStrategy ($MSTR) has acquired 6,911 BTCs for an estimated value of $584.1 million. This makes them the first firm to hold over 500,000 Bitcoins or 2.4% of the total supply valued at over $44.1 billion. Moreover, Metaplanet has also bought 150 BTCs today and now holds 3,350 BTCs.

While many marketers consider this to be the prime reason for the recent price surge, BTC has made a significant comeback in the ETF segment during the previous week. This highlights a potential bounce back for Bitcoin price in the upcoming period.

Bitcoin ETF Breaks Its 5-week Outflow Streak!

After bleeding constantly for about five weeks and losing ~$5.4 billion, the Bitcoin ETF has successfully concluded the 12th week of 2025 positively. Reportedly, during this week, 7 out of 11 ETFs have experienced a positive inflow. Notably, BlackRock’s “IBIT” led the charge with a total inflow of $537.5 million, followed by Fidelity’s “FBTC” with $136.5 million.

Reportedly, WTree & Valkyrie were the only 2 ETFs to record a neutral flow. On the other hand, Grayscale’s “GBTC” lost $24.5 million, followed by Invesco’s “BTCO” with $10.2 million. With this, the total flow for the week concluded at +$744.3 million.

What does this mean for the price of BTC? Let us now understand the possible Bitcoin price prediction for this week.

BTC Price Forms An Ascending Channel Pattern!

Despite the increased market volatility during the 2nd and 3rd week of March, the Bitcoin price has successfully formed an ascending channel pattern in the 4H time frame. An ascending channel pattern ideally refers to foreseeable bullish price action in both shorter and longer time frames.

The Simple Moving Average (SMA) successfully records a bullish curve in the 4H time frame of the Bitcoin price chart, highlighting an increase in the bullish action for the most prominent cryptocurrency in the market.

On the other hand, the Moving Average Convergence Divergence (MACD) indicator records a constant rise in the green histogram with its EMA 12 & 26-day experiencing a positive surge. This suggests that the price of Bitcoin may experience a sustained bullish action this week.

Will Bitcoin Rise Back Up?

Considering the present market statistics, the Bitcoin price could maintain its upward trajectory and head toward its immediate resistance trend level of $90,000. If the market continues favoring the bulls at that point, this could result in the largest crypto coin by market cap heading toward its upper target price of $92k this week.

On the contrary, if a bearish reversal occurs, under such a situation, the price of BTC could retreat toward its support level of $87,000. Moreover, if the market continues bleeding, this could result in it plunging toward its important support level of $85,500.

Also Read: Michael Saylor’s Strategy Becomes 1st Firm to Hold 500K Bitcoin

The Crypto Times – Read More